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Suggest You - Great Idea! Now What? The Entrepreneur's Challenge
People who are willing to expand their thought process, learn new things and broaden their horizons often contemplate a career change at some point of time in their life. Very often, they tend to make a wrong career choice because of lack of information or the inability to make a calculated decision. While career selection based on up-to-date information does help in making a living, it does not guarantee permanent satisfaction. This is evidenced from the fact that even people eventually elect to change their career path completely in spite of well paying, secure jobs.Working Professionals Change Careers Depending On Following Factors:• Either professional or psychological factors determine the career path. At times individuals experience a professional setback and find their current career un
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his t
If you sought near term investment returns that were lucrative and dividend paying, would you select a poorly performing stock, like that of GM? On the other hand, if you could experience a return on investment based on GM's sale of vehicles paying a little piece of revenue to you every time there was a car sold, an investment in GM may be quite profitable for you.Our company provides this unique way of generating revenue for your launch phase. Through a creative funding program, your company finds dollars for your start up by agreeing to share gross revenue with the founding sales force of your company. For every purchase of your primary product, whatever that may be, the founding sales force receives a share of 5% set aside specifically for this purpose. Let me share a few significant adva
So what?
Yes, dear reader, I said “So what?”
I’m not trying to bring you down. But you’ve probably heard the old saying that “great ideas are a dime a dozen.” Unfortunately, that’s all too true. Great ideas are merely a beginning, especially where business is concerned. If you can’t deliver on the promise of that idea, you’ve gone nowhere. It was merely a daydream. So now the serious work begins.
The Company Leader’s Business Plan
The first step to be confronted by any company leader is the business plan. What is it you want to accomplish? How will you go about it? Who will you need for help? Where will you do it? How much money will be needed? How long will it take? All these questions, and many others, have to be organized and answered. Further, if you want to get funded, you’re going to need a written business plan. Without it, as I’ve said elsewhere, you’re simply not ready for prime time. Without that plan, no one in business is going to be prepared to seriously consider your “great idea.”
What IS a Business Plan?
Simply put, it’s your road map, both the general and specific roads you’re planning on taking to get to your Golden City. Is it set in stone, rigidly fixed? Hardly. It should be flexible, ready to alter to meet changing conditions. Oddly, most entrepreneurs simply use it to raise capital, then forget all about it. It should be used for the life of the company, being updated at regular intervals. Further, it should be readily available to any of your key employees so that they can see what company intentions are at all times. In this way, they can contribute efforts and ideas which no one had thought of.
It would also make sense to have a web site version available by invitation to your investors. There’s nothing which makes investors more comfortable than being thought of as part of the family. They should not have to wait until the annual meeting to find out what’s going on. They, too, may make valuable contributions since many investors are or were in business and will understand what you’re trying to accomplish.
Your Executive Summary
This is possibly the most important document you can prepare. Why? This is the first thing your potential investor will see. And, if you don’t grab his attention on that first page, it’s quite unlikely he’ll read further. The current statistic states that only one in ten thousand business plans is ever funded. Kind of a stunning statistic, but understandable in the wake of the dot com debacle, still fresh in the memories of venture capitalists and angel investors.
Your Executive Summary is just that, a summation of your business plan. In 4-6 pages - no more - you lay out the overall grand plan. While you have to give the reasons for why this will work, or is working, the details are left to the business plan.
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his ti
Getting a raise should be the first thing you think about when the subject of increasing your income becomes important. Of all the things you can do to better your monthly finances – starting a home business, getting a part-time job, studying for a degree, etc., having your current pay increased at your present place of employment tops the list. It is the quickest and easiest of all your options. One quick meeting with your employer results in hundreds of extra dollars being deposited into your bank account every month!So who should ask for a raise? Anybody who hasn’t had one in a while, is underpaid for their level of skill and/or experience, or has really been going the extra mile in their job performance over any reasonable length of time (weeks, not days). If your paycheck comes from t
The first step to be confronted by any company leader is the business plan. What is it you want to accomplish? How will you go about it? Who will you need for help? Where will you do it? How much money will be needed? How long will it take? All these questions, and many others, have to be organized and answered. Further, if you want to get funded, you’re going to need a written business plan. Without it, as I’ve said elsewhere, you’re simply not ready for prime time. Without that plan, no one in business is going to be prepared to seriously consider your “great idea.”
What IS a Business Plan?
Simply put, it’s your road map, both the general and specific roads you’re planning on taking to get to your Golden City. Is it set in stone, rigidly fixed? Hardly. It should be flexible, ready to alter to meet changing conditions. Oddly, most entrepreneurs simply use it to raise capital, then forget all about it. It should be used for the life of the company, being updated at regular intervals. Further, it should be readily available to any of your key employees so that they can see what company intentions are at all times. In this way, they can contribute efforts and ideas which no one had thought of.
It would also make sense to have a web site version available by invitation to your investors. There’s nothing which makes investors more comfortable than being thought of as part of the family. They should not have to wait until the annual meeting to find out what’s going on. They, too, may make valuable contributions since many investors are or were in business and will understand what you’re trying to accomplish.
Your Executive Summary
This is possibly the most important document you can prepare. Why? This is the first thing your potential investor will see. And, if you don’t grab his attention on that first page, it’s quite unlikely he’ll read further. The current statistic states that only one in ten thousand business plans is ever funded. Kind of a stunning statistic, but understandable in the wake of the dot com debacle, still fresh in the memories of venture capitalists and angel investors.
Your Executive Summary is just that, a summation of your business plan. In 4-6 pages - no more - you lay out the overall grand plan. While you have to give the reasons for why this will work, or is working, the details are left to the business plan.
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his t
TRUTH IN ADVERTISINGBelow is an excerpt from our Business Kit "Advertising Works" --this is information that anybody who is advertising should know:Any advertising is serious business. It reflects you, your business, product and/or service. There are laws governing "truth in advertising" which are designed to prevent people from making false claims in advertising. If you have specific questions about these laws requiring answers you are advised to consult an attorney. If you can not afford to retain the services of an attorney then follow these simple rules of thumb:FALSE ADVERTISING-Whatever you say or promise in your advertisement you better be able to deliver! If you can't, then you may be frauding your audience with false advertising which
It would also make sense to have a web site version available by invitation to your investors. There’s nothing which makes investors more comfortable than being thought of as part of the family. They should not have to wait until the annual meeting to find out what’s going on. They, too, may make valuable contributions since many investors are or were in business and will understand what you’re trying to accomplish.
Your Executive Summary
This is possibly the most important document you can prepare. Why? This is the first thing your potential investor will see. And, if you don’t grab his attention on that first page, it’s quite unlikely he’ll read further. The current statistic states that only one in ten thousand business plans is ever funded. Kind of a stunning statistic, but understandable in the wake of the dot com debacle, still fresh in the memories of venture capitalists and angel investors.
Your Executive Summary is just that, a summation of your business plan. In 4-6 pages - no more - you lay out the overall grand plan. While you have to give the reasons for why this will work, or is working, the details are left to the business plan.
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his t
If you run a business and you are trying to get customers in the front door you may find it interesting that it is much easier to advertise to aliens than it is to advertise to humans. You see, aliens can read your mind and all you have to do is sit in your store and think about all the great deals you are having and the discount you are offering. The alien will read your mind and decide if they want anything or not and then fly in; in their UFO to come and buy something if they are interested.Humans on the other hand are rather stupid creatures and they cannot read your mind and therefore you need to have a simple message and you must advertise it in places where humans might see it. Perhaps in the phonebook, a newspaper or a nice glossy brochure, which explains exactly what it is you are selling
Your Executive Summary
This is possibly the most important document you can prepare. Why? This is the first thing your potential investor will see. And, if you don’t grab his attention on that first page, it’s quite unlikely he’ll read further. The current statistic states that only one in ten thousand business plans is ever funded. Kind of a stunning statistic, but understandable in the wake of the dot com debacle, still fresh in the memories of venture capitalists and angel investors.
Your Executive Summary is just that, a summation of your business plan. In 4-6 pages - no more - you lay out the overall grand plan. While you have to give the reasons for why this will work, or is working, the details are left to the business plan.
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his t
I’m not really that old. At 54, I am surely not old enough to remember communicating by smoke signals or drums. But I am old enough that while working for a huge engineering company, I was trained as a back-up for the regular telephone operator, and that meant learning how to operate the old cord switchboard. When Centrex telephone system was introduced, I learned about that as well. Back then, women – even engineers – were all expected to type. And those in the clerical field were expected to learn at least enough about customer service, greeting customers face-to-face as a receptionist, and how to run a switchboard, that they could fill in if the regular receptionist or switchboard operator had to be away.A few years later, I learned to send and receive telex messages. I remember well the clic
Your Phone Number
I know it may sound silly to tell you, but the cell phone contact of the key principal must be on the top of that first page. (I received one today which didn't have any name or contact number anywhere in the document!) If the investor feels he wants more information or, lucky you, that he wants to meet with you personally, he should not have to scramble through pages to find out where to get to you.
How Much Do You Want?
No more than than at the end of the second paragraph, you must state how much money you are seeking. This is critically important. I have seen summaries where the amount being sought was on the very last page! If the investor only invests in projects over $10 million, why waste his time - and possibly gain his enmity - with a project which only needs $5 million? And an investor who risks only $1 million or less at a time will also become annoyed. “So what?” you might ask. The answer is that you just might have to approach that same investor again for a different amount. Wherever possible, leave a good taste in people’s mouths.
What To Avoid
This one is easy: Hype! Your Executive Summary is not a customer sales piece. You need facts, some excitement, reasons why your project will work. But if the investor senses that you’re doing a sales or marketing job on him, he’ll just put the plan on his “return” pile and reach for the next one. So go easy on the superlatives.
Who Will Do It?
This can be a real sticking point. Writing, like film reviewing, is something that everyone believes they know how to do. The truth is, not a lot of folks know how to put words together well. I’ve had business plans and executive summaries submitted to me which were actually embarrassing to read. Bad English, poor sentence structure, incorrect usage of words...and many other things which showed me the wrong person had put the package together. You’ve got to be brutally honest with yourself. If writing is a long way from your strong point, get someone else to do it. And don’t for a moment believe that some software program will give you a powerful presentation. That’s what everyone else is using, too. Plans developed from such software tend to be canned and flat. Not exactly what you want to present.
At the very least, spend some money to have a professional edit your work, make suggestions and, if necessary rewrite the piece. If you’re looking for millions and saving a few thousand by doing a poor writing job, you’ve wasted all the time and effort you’ve spent...and your “great idea” won’t get funded.
Yes, We’ll Help
We are experienced writers of both business plans and, especially, executive summaries. We won’t charge you an arm and a leg for consulting on your executive summary. If your business plan needs work, we’ll quote you a price. Contact us and ask. Additionally, if you can qualify for their program, we represent an excellent source of equity investment. Visit our web site. Talk to us.
What Now?
What are you waiting for. If you’ve got that "Great Idea,” start writing!
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